ProFrac Secures $300 Million Revolving Credit Facility
MT Newswires Live
Jul 06
ProFrac (ACDC) has refinanced and replaced its $275 million credit facility with a new $300 million asset-based revolving credit facility that matures in July 2030, the company said Sunday.
Proceeds from the facility were used to repay outstanding borrowings under the previous credit facility, the company said.
The agreement also includes an uncommitted accordion feature that could increase total borrowing capacity to $325 million, ProFrac said.
Shares of the company were down nearly 2% in Monday premarket trading.
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